AT long last, Mr Dutton has revealed (ABC TV, 19 June) that his nuclear proposals are not commercially supported by private enterprise companies.
Instead, the Opposition has opted for a socialistic approach, whereby taxpayers cough up 100 percent of the cost for seven wholly government-owned and controlled nuclear reactors.
Judging by recent overseas experience, those construction costs will be insanely expensive.
For instance, Mr Dutton indicated a preference for Westinghouse AP1000 reactors, but failed to mention the huge costs and construction delays of the most recent US build: Georgia’s Vogtle Units 3 and 4 AP1000 reactors.
They took 15 years to build at a cost of more than US $35 billion (AU $53.7 billion), double the projected timeline and cost.
This equates to US$15,766/kW of planned capacity (AU $24,180/kW): compared to solar PV at AU $1505/kW for solar PV and wind power at AU $5545/kW (fixed) and AU $6856/kW (floating).
The only other Westinghouse AP1000 nuclear project in USA was the two-unit V.C. Summer nuclear project in South Carolina, which went bankrupt in 2017 after years of mismanagement and corruption, and after construction costs blew out from US $9.8 billion to $25 billion (AU $37.5 billion).
Will Dutton’s nuclear reactors be a similar financial disaster for Australia?
Regards,
Kenneth HIGGS,
Raymond Terrace.